We care about our environment

We believe that respect for the environment is an obligation for the whole of society, for ourselves and for sustainability, now and for future generations.  

Climate action 

Following a GHG emissions reduction in the 2014-2021 period of 39% for Scope 1 and 2 emissions, Almirall has set ambitious GHG emissions reduction targets aligned to the Paris Agreement commitments. Following the calculation of its greenhouse gas emissions from its entire value chain (scope 3), science-based short and long term targets (SBT) aligned with a 1.5ºC scenario have been defined, as well as a roadmap of actions to achieve these goals. 
 

Short-term target: 2030  

• Scope 1 and 2: 50% reduction in GHG emissions compared to 2019.

• Scope 3: 28% reduction in GHG emissions compared to 2019. Includes Category 1 - Purchased goods and services, Category 3 - Fuel and energy related activities (not included in scope 1 or scope 2), Category 4 – Upstream transportation and distribution, Category 6 - Business travel, and Category 7 – Employee Commuting, which all add up to 97% of total 2019 Scope 3 emissions. 

Long-term target: 2050 

Almirall has committed to achieve net zero emissions by 2050.  

To add transparency and credibility to the declared GHG emissions inventory and ensure a robust calculation methodology to measure the progress of Almirall’s targets, the full value chain carbon footprint has been verified by an accredited third-party verifier. 

Energy Efficiency and Renewable Energy Programme 

A building block of our environmental strategy is the development of our “Energy Master Plan” which identifies the key investment areas for the upcoming years.  

Besides the efficiency actions identified, the plan also seeks to address renewable energy across all business units. Within this plan, Almirall is committed, not only to the purchase of green energy with Guarantee of Origin but also to promote self-generated renewable energy. 

Currently, 100% of the electricity consumed at the sites in Spain and Germany comes from renewable sources. Almirall's Spanish facilities received the ISO 50001 certification in 2013 while the German sites were ISO 50001 certified in 2016.

TCFD Alignment 

GOVERNANCE

Active corporate governance is key to advancing Almirall's climate strategy and fulfilling the company's responsibilities to all its stakeholders. Almirall has formally established oversight for sustainability issues, including its approach to climate risks and opportunities; this reflects its strong commitment to leadership at both senior management and Board level. 

Click here to download Almirall’s climate-related governance 

STRATEGY

In line with the TCFD recommendations, Almirall has analysed the climate-related risks and opportunities associated with its activities through a Climate Change Risk Assessment (CCRA) to assess the major risks and opportunities, accounting for different time horizons. This assessment consisted of a qualitative mapping to identify climate related risks and opportunities potentially affecting Almirall's business. 

As part of the results, click here to see the following risks and opportunities that have been identified. 

RISK MANAGEMENT 

Almirall integrates climate change risks and opportunities into its corporate risk management process. Almirall is committed to identifying, assessing and monitoring risks and opportunities related to climate change, and has developed an integrated, multidisciplinary risk management process within the company. 

Prioritisation, financial implications and risk mitigation  

Once risks have been identified, they are qualitatively assessed using a risk materiality matrix based on the likelihood of occurrence and severity of impact. This assessment measures both inherent risk and residual risk after risk mitigation plans (action plans) have been implemented. Almirall uses this methodology to select and prioritise the company’s most material risks. Since 2020, the risk of climate change has been included in the above-mentioned group of significant risks. The Risk Management Committee is responsible for the supervision and control of the risk management system, as well as for the control and monitoring of the implementation of action plans to mitigate risk. This committee reports the relevant risks of the company through the Senior Internal Audit Director to the Audits Committee and the Board of Directors. The company’s risk map is updated at least annually. The CEO and the members of the management committee are responsible for the execution and implementation of the annual risk map as well as the risk mitigation action plans  

The risks are then qualitatively evaluated using a risk materiality matrix based on the probability of occurrence and likelihood of impact. This evaluation measures both the inherent risk and the residual risk. Almirall uses this prioritization exercise to select the most material risks for the company. The Risk Management Committee is in charge of further evaluating and managing these top priority risks and providing annual updates on progress to the Audit Commission/Board of Directors.  

TARGETS AND METRICS

Almirall is strongly committed to reduce its carbon footprint and has set Science-Based Targets (SBTi) in 2022, with interim medium targets for 2030 and long targets for 2050 (net zero). 

With regards to metrics, Almirall already measures environmental indicators to pursue its objectives in the short, medium and long-term, such as greenhouse gas emissions (Scope 1, 2 & 3), energy efficiency savings, renewable energy consumed and generated, etc. Metrics, such as energy efficiency and emission reduction targets are part of the monetary incentives applicable to management level.